STAR FURNITURE COMPANY OF WEST UNION INC.
PPP Loan approved Mar 12, 2021 through The Huntington National Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $955,940.00 | 100.0% |
| Utilities | $1.00 | 0.0% |
About This Loan
STAR FURNITURE COMPANY OF WEST UNION INC. received a PPP loan of $955,945 approved on Mar 12, 2021. The loan was originated by The Huntington National Bank.
STAR FURNITURE COMPANY OF WEST UNION INC. is a corporation located in BRIDGEPORT, West Virginia. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Furniture Retailers industry (NAICS 442110), part of the Retail Trade sector of the economy. The applicant reported 104 jobs as retained through this loan.
The SBA forgave $962,440.19 of this loan — 100.7% of the total approved amount, with forgiveness recorded on Nov 22, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $955,940 to payroll, $1 to utilities. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in West Virginia, visit the West Virginia page. To compare this loan with others in the same industry, see the Furniture Retailers industry page.